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Cosnova Beauty reported strong numbers in 2013. The cosmetics company has ended the fiscal year with another double-digit growth in sales. With net sales of €247.5 million, the previous year’s figures (€212.1 million) were surpassed by 17%.
“Our extremely strong sales performance takes place across a broad front with geographic expansion of our distribution and the development of new sales channels in Germany and abroad as well as via innovative concepts for the two cosmetics brands Essence and Catrice,” stated Javier González, owner and general manager of Cosnova Beauty.
Thanks to successful product launches and increased distribution, net sales rose and market share grew in all regions. Therefore, the international market significantly contributed to the growth and represents 50% of sales.
Cosnova Beauty was able to continue its international expansion with seven new sales markets in Europe, South America, Asia, the Middle East and Oceania. The company continues to grow faster than the markets—not only in the new markets (Eastern Europe, Asia, Latin America and the Middle East), but also in Europe, where no significant growth has been noted elsewhere.
“This means that Cosnova Beauty is one of the fastest organically growing companies in the world as well as one of the most successful cosmetics companies by international comparison. According to Women’s Wear Daily (WWD), a leading international trade magazine, it managed to climb six places compared to last year and has reached position 68 of the worldwide Beauty’s Top 100 Ranking in 2013”, reported Mathias Delor, general manager of Cosnova Beauty.
According to Euromonitor International, the cosmetics brand Essence is one of the biggest cosmetics brands in the lower price segment in the world. However, market leadership in the lower price segment is not the ultimate goal of the Cosnova management. Instead, the aim is absolute market leadership per unit sold across all price segments.
Strengthening this market position even further is one of Cosnova Beauty’s aims for 2014. Owner and general manager of Cosnova Beauty Christina Oster-Daum commented, “Our task is to continue to successfully launch and establish innovative and unique product ranges like our Essence gel nails@home concept or the Catrice Liquid Metal Eyeshadows on the market. It is important to consistently push forward with an innovation rate of 50% per year per brand for the respective standard range as well as the numerous limited editions. We want to keep proving that trend, innovation and excellent quality are not a matter of price.”
Thanks to various partnerships and extensive global communication activities in classic media, as well as increasing use of social media, brand awareness and the image of both brands has been continuously developed internationally. In 2013, Essence was the official worldwide cosmetics partner of the Justin Bieber “Believe” tour. Essence was also once again a partner of the MTV European Music Awards and exclusively sponsored the “Best Look” award. Catrice, on the other hand, was a sponsoring partner of the 2013 WGSN Global Fashion Awards, which are awards granted by the leading trend analysis and research agency in the fashion industry WGSN, as well as the official makeup partner of the up-and-coming international design label Lala Berlin at the Berlin Fashion Week.
For the business year 2014, the general managers Oster-Daum, González and Delor plan to achieve yet another double-digit growth in sales. González noted, “This is a realistic objective as our national and international business is continuing to develop superbly. Furthermore, we have managed to expand the range of products to three meters for Essence and two meters for Catrice, with an important trade partner in several countries.”